Moody’s Investors Services Vice President Saranga Ranasinghe said there was an “expected pullback” in demand for residential real estate.
Australia’s residential segment is “very well positioned” with strong population growth compared to the rest of the developed market, says Ms Ranasinghe.
“We tend to be land constrained in areas where people want to live, so given all these factors, our longer-term vision is that there will be a recovery in the residential market,” Ms Ranasinghe said. to Sky News editor Ross Greenwood.
“Our baseline assumption is that there will be a downturn, but it won’t be as significant as it has been in previous cycles.”